Queensland Consolidated Acts

CREDIT ACT 1987 - SECT 54

(1) A provision in a continuing credit contract which requires the debtor to pay to the credit provider an amount other than an amount that is--

(a) the cash price of goods or services supplied by the credit provider or by another supplier in respect of payment for which credit is provided under the contract; or

(b) an amount of cash supplied by the credit provider or by another supplier for the supply of which credit is provided under the contract; or

(c) a credit charge; or

(d) an amount of enforcement expenses; or

(e) an amount of duty under the Duties Act 2001 in respect of the contract payable by the debtor to the credit provider; or

(f) an amount payable under the contract by the debtor to the credit provider that is a prescribed charge for the purposes of this section; or

(g) the amount of any other consideration given to the debtor under the contract being consideration that is of a kind prescribed for the purposes of this section;

is void.

(2) A credit provider shall not enter into a continuing credit contract that includes a provision that, because of subsection (1), is void.

Maximum penalty--40 penalty units.